News Karnataka
Thursday, September 21 2023

Bengaluru: HAL records highest revenue of Rs 26,500 cr

Photo Credit : IANS

Bengaluru: Public sector Hindustan Aeronautics Limited (HAL) has registered its highest-ever revenue from operations of nearly Rs 26,500 crore (provisional and unaudited) for the financial year (FY) 2022-23 as compared to Rs 24,620 crore for the previous financial year.

The company has recorded a revenue growth of eight per cent during the year as compared to the previous FY 2021-22.

“Despite the challenges of supply chain disruptions due to geo-political situations, the company could achieve the targeted growth in the top line. This was possible with the increased thrust on indigenisation and with the available inventory,” said C. B. Ananthakrishnan, Chief Managing Director, HAL.

He also added that the order book of the company stood at nearly Rs 82,000 crore at the end of March 2023 after liquidation of the supplies during 2022-23.

During the current year, fresh contracts of nearly Rs 26,000 crore were received which includes manufacturing contracts for 70 HTT-40, six Do-228 aircraft and PSLV launch vehicles. In addition, on the ROH (Repairs and Overhaul) front fresh order to the tune of Rs 16,600 crore was received during the year.

The cash flow of the company has improved substantially with payments of nearly Rs 25,000 crore received from various Defence customers during FY 2022-23.

During the current year, the income tax refund of Rs 1,798 crore, including interest of Rs 542 crore, has been received consequent to the favourable decision of the Income Tax Appellate Tribunal. This will clear all the old outstanding tax litigation with the Income tax department.

Considering the performance, the company has paid an interim dividend of Rs 40 per share during the current financial year representing 400 per cent on the face value of Rs 10 per share. The company has also paid a final dividend of Rs 10 per share for the FY 2021-22.

The company has maintained the growth momentum and has achieved an all-round improved performance, a HAL statement said.

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